Mortgage Refinance Rates Drop Again …for Now!
mortgage refinance rates drop, but for how long?
So, mortgage refinance rates have come down once again. I tell you, it is like a stupid game with the Fed and these crazy rates. It seems like mortgage rates are changing every day, very rapidly and violently. Just last week, mortgage refinance interest rates were at highs, some as high as 6.5%! Ha ha, like that is a reallly high mortgage rate anyway, right? It goes to show you just how spoiled we have all become by the low rates over the last 8 years.
But what if that all changes and we see really high mortgage refinance interest rates? That would put a lot of people into a real shock. It would definitely not help the housing market or the economy in general. But is seems like these mini-mortgage refinance booms keep popping up, it’s just so wacky! I can’t wait until the day comes, when mortgage rates are at 8% again, that way, people will come back down to Earth. Hoem ownership will still be stable, because, after all, people are still going to need mortgages, right!?
There is a long history that led up to this mortgage rate crisis. I won’t go too deep into the details, but let’s just say that the booms are busts are artificially manufactured. Refinance will disappear altogether on day. I mean, would anyone actually want to refinance to an 8% rate, when the average interest rate a typical home owner carries now, is about 6% anyhow?
I wanted to post a video about the history of mortgage rates and refi’s, and also why right now is a great time to buy:
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